They are both useful. I'm a frequent committer but find myself using this, I wanna say, 0 - 3 times per month. It's one of those things that when you want it, you're really glad it exists.
Undo is something that's extremely useful after the fact - commits can accomplish the same end if you're fastidious about continuously committing but fall short if you only realize your need after you've made the edit.
Consider this capability being used over the span of seconds as just another text editing tool. It would be like saying we don’t need undo/redo at all, just use git.
Lio|14 days ago
Meanwhile the undo/redo tree is always there, ready to use and has no overhead. You can ignore it completely until you need it to save your arse.
sodapopcan|14 days ago
munk-a|14 days ago
Waterluvian|14 days ago